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UNIVERSITY   OF  CALIFORNIA. 

,GIF~T    OF- 


Received l^C^.         ,  rSf^. 

Accessions  No.  J^-%^'^^        Siuif  No. 


BOOK-KEEPING   BY  SINGLE  ENTRY. 


Jfor  Comman  Stljools. 


ADAPTED   TO 


PAYSON,  DUNTON   &  SCRIBNER'S   COMBINED   SYSTEM   OF   PENMANSniP. 


BY 


L.  B.  HANAFORD,  A.  M.,  AND  J.  W.  TAYSON, 

PBINCIPAL3    OF    THE    BOSTON    MERCANTILE    ACADEMY. 
10    8DUMER    STREET. 

/f\P^  OF  THB        ^ 

((miveesity] 


NEW  YORK: 
WOOLWOHTH,   AINSWORTH,   AJSTD  COJIPANY, 

is:i. 


i(.v> 


^\rt3^ 


Entered  accordin<r  to  Act  of  Congress,  in  the  year  185S,  by 
CROSBY,  NICHOLS  &   CO., 
In  the  Clerk's  Office  of  the  District  Court  of  the  District  of  MassachuMtM. 
J/   1/  f  ^J 


SLECTBOTYPED   BV  TIOTiART  &   ROBHINS,   BOSTON. 


F  KIN  TED    nv 
OFOROE     C.     BANn     U     AVF.  RY 


P  R  E  r  A  C  E 


The  importance  of  the  study  of  Bookkeeping,  as 
a  branch  of  Common  School  education,  is  now  gen- 
erally admitted  ;  and,  in  offering  this  book  to  the 
public,  the  only  apology  which  the  authors  deem 
necessary  is  the  almost  universal  demand  for  a  text- 
book adapted  to  the  wants  of  pupils  in  the  Common 
Schools  of  the  country. 

The  peculiar  feature  of  this  book  is,  that  those 
portions  which  are  to  be  written  by  the  learner  are 
engraved  in  imitation  of  real  manuscript  Accou?it- 
Books.  By  this  means  the  mechanical  part  of 
Bookkeeping,  which  is  no  small  part,  is  taught  by 
example.  Different  styles  of  writing  should  be 
employed  for  the  different  parts  of  the  books.  The 
"ledger-headings"  should  be  written  in  a  much 
larger  and  bolder  hand  than  the  entries  in  the  same 
book,  and  the  names  of  persons  and  places  in  the 
Day  Book  should  stand  out  so  as  to  be  seen  at  a 
glance.  The  advantages  of  this  form  over  the 
printed  one  must  be  evident  to  eveiy  teacher  who 
is  interested  in  this  study. 

The  manuscript  "  Forms,"  with  the  Explana- 
tions,   will    aid    the    learner  both    in  writing    and 


composing  similar  papers  in  the  transaction  of  busi- 
ness. 

The  style  of  penmanship  employed  in  this  bock  is 
the  same  as  that  of  "  Payson,  Dunton,  and  Scrib- 
ner's  Combined  System  of  Rapid  Penmanship,"  .so 
generally  used  in  every  part  of  the  Union ;  and  this 
book  may  be  considered  a  continuation  of  that  series 
of  Wiiting  Books.  The  intimate  connection  between 
Penmanship  and  Bookkeeping  makes  this  arrange- 
ment very  appropriate. 

The  language  of  the  Rules  and  Explanations  is 
intended  to  be  as  plain  and  simple  as  possible,  with- 
out being  childish,  —  such,  in  fact,  as  is  used  by  the 
most  successful  teachers  in  addressing  their  pupils, 
—  language  that  will  not  need  to  be  translated  in 
order  to  render  it  intelligible. 

Those  who  may  use  this  book  are  reminded  that 
it  should  be  studied  as  other  text-books  are,  and 
that  merely  writing  the  books  thi'ough  will  not  give 
them  a  thorough  understanding  of  the  subject ;  — as 
well  might  they  expect  to  obtain  a  perfect  knowl- 
edge of  Arithmetic  by  simply  copying  the  solutions 
from  a  key  The  Authors. 

Boston,  September  25,  1858. 


CONTENTS. 


INTRODUCTORY. 
Preface, 3 

Definitions  and  Abbreviations,         ......        6 


FIRST    SET. 

DEALING    IN    V'AUIOUS   KINDS   OF   GOODS. 

Introduction,  

Remarks  on  the  Daj-Buok, 

"        "     "    Ledger, 

Directions  for  Writing  the  First  Set, 

"  "    Posting   "       "      "  .... 

"  "    Balancing  the  Accounts,       .... 

Remarks  on  the  Balance-Sheet, 

Questions  for  Review, . 

Day-Book, 15 

Ledger, 21 

Balance-Sheet, 24 


SECOND    SET, 


RETAIL   GROCERY   BUSINESS. 


Introduction,  .... 

Remarks  on  the  Cash-Book, 
Directions  for  Writing  the  Second  Set, 
Design  of  the  History, 
History  of  the  Business, 
Day-Book,  .         .         .         .         . 

Cash-Book, 

Posting  and  Closing,  .... 
Review,  .... 

10  :   Questions, 

11  Examples  for  Practice,     . 
Day-Book  and  Ledger  Comljiued, 
Business  Forms,       .... 
Explanation  of  the  Forms, 


26 
26 
27 
27 
27 
33 
42 
45 
45 
46 
47 
52 
53 
59 


DEFINITIONS   OF  MERCANTILE   TERMS. 

Acceptance,  TIio  receiving  of  a  Praft,  or  Bill  of  Exchange,  in  such  a  manner 
as  to  bintl  the  acceptor  to  nuiku  pnymcnt.  This  is  Uono  by  writing  the 
word  "Accepted, "   witli  the  signature,  date,  Ac,  across  tho  face  of  the  J3iU. 

Assets.     Property  ut  nil  kinds. 

Average.     A  medium  of  timo  or  quantity;    ucciamt. 

Balance,     The  diiTerence  between  the  two  .sides  of  an  account. 
Biti.     A  written  stiiteincnt  of  particulars;   a  copy  of  an  account. 
Bills.     A  general  name  for  notes,  drafts,  &,c. 
Bund.     A  written  obligation  to  fulfil  a  contract. 

Capital,      Property  invested  in  business. 

Commission.      A  couipen^atiou  f^r  buying  or  selling  goods,  or  for  other  services. 
Cmsijnmcnt.     Goods  scut  or  delivered  to  an  agent  for  sale. 
Cnitra.     Opposite  side. 

Credit.  To  trust;  confidence.  The  side  of  an  account  on  whicli  j)ayinont  re- 
ceived is  entered. 

Debit.     To  charge  with  debt;  or  the  charge  itself. 

Dividend.      Tlie  amount  divided;  as  gains  among  partners  or  stockholders. 

Discount.     Tu  deduct  a  certain  sum  or  rate  per  cent,  from  the  principal  sum; 

an  allowaiico  for  tho  use  of  money  before  it  is  due. 
Draft,      An  order  fi)r  the  jiaymL-nt  of  rnoncy. 
Duty.     A  tax  imposed  by  Ooveriuncnt  on  imported  goods. 

Endorse.     To  write  one's  name  on  the  back  of  a  note  or  biil. 

Finn.     The  members  of  a  partnership;    the  comi>any. 
Folio.      A  page  in  a  book,  formerly  two  opposite  pages. 

Guarantee.  Assurance  for  the  payment  of  a  debt,  or  for  the  performance  of  a 
contract. 

Ju.<nrance.     Security  against  loss  by  fire,  or  otherwise. 
Insolvency.     Inability  to  pay  one's  debts. 
Interest.     An  allowance  for  the  use  of  money. 
Invitee.     A  bill  of  the  go<»ds  bouglit,  or  consigned. 
invaitory,     A  list  of  the  items  of  one's  propert}'. 

Liability,     A  debt  or  obligation  to  pay. 

Net.  »  The  exact  amount  after  all  deductions. 

Note,     A  written  promise  to  pay  in  money  or  goods. 

Order.  A  Avrittcn  request  for  the  payment  or  delivery  of  anything  to  a  third 
person. 

Partnership.  A  union  of  two  or  more  persons  in  trade;  joint  interest. 
P'ttry.  The  written  agreement  between  t!ic  insurer  and  the  insured. 
Principal.     The    leading    member    of    a  firm  ;     a  suui   on   which   interest   is 

computed. 
Protent.      A  legal  notice  that  a  note  or  bill  was  not  accepted  when  presented, 

or  not  paid  when  duo. 

lirctipt.     A  writton  ucknowlodgmont  of  the  pajTuent  of  money,  &c. 


Resources.     Assets  available  for  business. 

^'ifjht  (of  a  draft  or  bill).     Presentation  for  payment,  or  for  acceptance. 

tSohcnt.     Able  to  jjay  one's  debts. 

Stock.     A  term  applied  to  the  person  who  carries  on  business. 

Tan:     An  allowance  for  the  weight  of  the  box,  cask,  «fcc.,  in  which  goods  are 

packed. 
'Transfer.     To  convoy  from  one  account  to  another. 


Act. 

Arnt. 

Axi'j. 

Dal. 

Dhl. 

B.  B. 
But. 

Cap. 

C.  B. 
Co. 
Com. 
Cr. 
Cwt. 

D.  n. 

Dec. 

Dft. 

Dis. 

Dr. 

d. 

d's. 

Doz. 

ea. 

Eng. 

Ex. 

Kxch. 

Feb. 

Fr't. 

fol. 

fr- 

Gal. 

Jlltd. 

I.  n. 

i.  e. 
Jns, 
inxt. 

Invt. 
Jan. 

J.  F. 

£ 


ABBREVI 

Account. 

Am  omit. 

August. 

Balance. 

Barrel. 

Bill -Boole. 

Bought. 

Capital. 

Cas!i  Boole. 

Com  pan}'. 

Commission. 

Creditor. 

Hundred  weight. 

Day-Eook. 

December. 

Draft. 

Discount, 

Debtor. 

Pence. 

Days. 

Dozen, 

Each. 

English. 

E.vample. 

Exchange. 

Ftbruar}'. 

Freight. 

Folio,  or  page. 

From. 

Gallon. 

Hogshead. 

Invoice-Book. 

That  is. 

Insurance. 

The  present  month. 

Inventory. 

January. 
Journal  Folio, 
Pounds  (money). 


\TIONS,   & 

L.  r. 

Mar. 

Mdsc. 

mo. 

Niw. 

N.  B. 

On. 

P- 
Pd. 

Pr. 
Poy't. 
P.  4-  t. 
P.  C.  II. 
pr.  ct. 
Prem. 
Rccd. 
R.  R. 


Sept. 
Sunds, 
S.  B. 

rdl. 

VIZ. 

Yds. 
yr. 

m 

6 
"Ic 

+ 

X 

1/ 
2/6 


Pounds  (weight). 

Ledger  folio. 

Jlarcli. 

IVIcrcbandise. 

Mouth. 

November. 

TaliC  notice. 

October. 

Page. 

Paid. 

Pair. 

i*ayinent. 

Profit  and  Loss. 

Putty  Cash-Book. 

Per  cent. 

Premium. 

Ueceivcd. 

liuil  Road. 

September. 

Sundries. 

Sales-Book. 

Last  month. 

Namely. 

Yards. 

Year. 

At. 

Cents. 

Account. 

Per  cent. 

Number. 

Add. 

Subtract. 

Multiply. 

Divide. 

1'4. 

2%. 

1  shilling. 

2s.  k  Gd. 


BOOKKEEPING. 


,f''<^'"   OF  THR 


INTRODUCTION. 

Bookkeeping  is  the  art  of  recording  mercantile 
transactions  in  a  regular  and  systematic  manner. 

There  are  two  methods  by  which  hooks  are  kept : 
—  one  called  Single  Entry,  and  the  other  Double 
Entry. 

In  single  entry  Boolvkeeping,  but  one  entry  is  gene- 
rally made,  in  the  Ledger,  for  each  transaction ;  while 


in  doiiLle  entry  the    same   amount   is  entered  on  two 
different  accounts. 

Example :  —  If  I  sell  John  Smith  a  barrel  of  flour 
Avhich  he  does  not  pay  for  at  the  time,  I  charge  it  on 
his  account ;  and  in  single  entry  this  is  the  only  account 
on  which  it  is  entered ;  but  in  double  entry,  besides 
being  debited  on  Smith's  account,  it  is  also  credited  on 
the  Merchandise  account,  —  hence  the  name  Double 
Entry. 


SINGLE  ENTRY. -FIRST  SET. 


This  set  is  introduced  to  show  the  learner  some  of 
the  simplest  operations  of  Bookkeeping ;  such  as  post- 
ing, balancing  the  accounts,  &c. 

It  represents  the  business  of  a  small  icholesale  and 
retail  store,  different  kinds  of  goods  being  mentioned, 
to  give  examples  of  the  style  of  writing,  and  the  abbre- 
viations appropriate  to  each. 

BOOKS. 

The  books  used  in  this  set  are  the  Day-Book  and 
Ledger.  The  Cash-Book  is  omitted,  to  make  it  more 
simple,  —  although  a  Cash-Book  should  be  kept  by  a 
person  doing  such  a  business. 


D  AY-BO  OK. 

In  the  Day-Book  the  various  transactions  are  re- 
corded, each  day,  in  the  order  in  which  they  occur,- — • 
tlie  debits  and  credits  belonging  to  different  persons 
being  mixed  together. 

This  book  should  be  a  kind  of  history  of  the  business 
of  each  day,  containing  all  the  particulars  which  ai-e 
worthy  of  being  remembered.  Such  a  history  will 
prevent  disputes  about  many  things,  which  would  be 
forgotten  by  one  party  or  the  other,  if  trusted  to  the 
memory.  Agreements,  contracts,  <fcc.,  are  often  written 
in  the  Day-Book. 


BOOKKEEPING. 


LEDGER. 

The  Ledger  is  tlie  book  in  which  tlie  accounts  arc 
collected  and  arranged  in  a  more  systematic  order  than 
in  the  Day-Book.  All  the  charges  which  have  been 
made  against  any  one  person,  throughout  the  whole 
Day-Book,  are  entered  in  the  Ledger,  under  that  per- 
son's name ;  and  opposite  to  these  are  placed  all  the 
credits,  if  any,  in  his  favor.  This  gives  us  a  brief  state- 
ment of  our  dealings  with  tliat  person,  and  shows  how 
our  account  stands  with  him :  so  that  we  are  ready  to 
settle  with  him  at  any  time,  without  being  obliged  to 
look  through  the  whole  Day-Book  while  he  is  waiting. 
This  process  of  transferring  from  the  Day-Book  to  the 
Ledger  is  called  posting. 

When  books  are  kept  strictly  by  Single  Entrj-,  the 
onlj'  accounts  kept  are  those  with  persons ;  and  these 
show,  on  the  Dr.  side  wliat  they  owe  us,  and  on  the 
Cr.  side  wliat  we  owe  them. 

DIRECTIONS  FOR  WRITING  THE  FIRST  SET. 

After  the  learner  has  studied  the  foregoing  carefully, 
he  should  copy  the  Day-Book  into  a  blank  book  pro- 
vided for  the  purpose,  omitting  the  figures  in  the  left^ 
hand  column  until  he  begins  to  post.  The  ruling  may 
be  done  as  he  prqpeeds,  or  he  may  omit  it  till  ho  has 
written  a  whole  page,  and  then  rule  that  page  at  once. 
The  blanks  are  of  the  same  size  as  the  text-book,  and 
the  pupil  should  write  about  the  same  words  on  a  line 
as  are  found  iu  the  text-book,  so  that  the  pages  may 
correspond. 


POSTING. 

When  tlio  Day-Book  is  all  copied,  the  student  may 
open  the  accounts  in  the  Ledger;  that  is,  write  the  names 
of  the  different  persons  with  whom  he  is  to  keep  ac- 
counts in  the  blank  Ledger,  placing  "  Dr.''  and  "  Cr." 
at  the  top  of  each  page. 

This  being  done,  he  should  begin  with  the  first 
entry  in  the  Day-Book,  and  post  each  one  as  he  comes 
to  it. 

To  post  this  first  charge  against  Amos  Bennett,  turn 
to  his  account  in  tlie  Ledger,  and  under  his  name,  on 
the  left-hand  or  Dr.  side,  write  the  date  in  the  first 
column ;  the  description  "  To  Mdse.,"  in  the  second  ;  the 
page  of  the  Day-Book  where  this  charge  is  found,  in 
the  third :  and  the  amount,  in  the  fourth,  as  below :  — 


Dr 

Amos  Bennett, 

Cr 

■ 

18.58 

D.B. 

Dols. 

cts. 

Jun.  1. 

To  Mdse.   .  . 

1 

43 

00 

1 

Then  put  the  figure  "  1  "  in  the  left-hand  margin  of 
the  Day  Book,  opposite  to  Bennett's  name,  to  show  that 
it  is  posted  on  the  first  page  of  the  Ledger. 

This  "postmark'^  should  be  made  as  soon  as  the 
entry  is  posted,  and  not  till  then,  as  it  serves  to  show 
whicli  entries  are  posted,  and  thus  prevents  omitting 
any,  or  posting  them  twice. 

Next,  post  the  debit  of  the  second  day  to  the  account 


BOOKKEEPING 


of  Charles  D.  Emmons,  in  the  same  manner,  and  so 
proceed  till  the  whole  Da)--Book  is  posted. 

But  a  word  or  two  should  be  used  for  the  descrip- 
tion, so  that  it  may  occupy  but  one  line  in  the  Ledger ; 
and  the  learner  may  use  his  own  judgment  in  selecting 
such  words  as  will  best  express  the  nature  of  the 
transaction.  Some  booldveepers  do  not  insert  any 
description  in  the  Ledger,  entering  only  the  date,  the 
page  of  the  Day-Book,  and  the  amount. 

If  any  mistakes  should  be  made,  they  should  be  cor- 
rected by  making  another  entry,  and  not  by  erasing  the 
wrong  one.  Thus,  if  a  siun  is  debited  on  any  account 
where  it  ought  not  to  be,  it  may  be  corrected  by  credit- 
ing the  account  for  the  same  amount ;  and  if  an  entry  is 
made  on  the  wrong  side  of  an  account,  it  should  first  be 
corrected  by  entering  the  same  amount  on  the  other 
side  of  the  account,  "  To  Error,"  or  "  By  Error,"  and 
also  by  makiug  the  proper  entry  where  it  should  have 
been  at  first. 

BALANCING  THE  ACCOUNTS. 

Before  beginning  to  balance  or  close  the  accounts,  re- 
view the  posting,  comparing  each  entry  in  the  Day- 
Book  with  the  corresponding  one  in  the  Ledger,  to  see 
that  the  right  amount  is  entered  on  the  right  side  of  the 
right  account.  If  it  is  all  found  to  be  correct,  begin 
with  the  first  account,  and  add  each  side  of  it.  Sub- 
tract the  smaller  amount  from  the  greater,  and  the 
difference  is  called  the  balance.     Enter  this  balance  on 


the  smaller  side,  and  the  footings  of  the  two  sides  will 
be  equal. 

Before  balancing,  the  first  account  will  appear  as 
follows : 


Dr. 


Amos  Bennett, 


Or 


1858 

D.B. 

Dols. 

ots. 

1858 

D.B. 

Dola. 

Jan.  1 

To  Mdse.  . 

1 

43 

00 

1  Jan.  1 

By  Cash    . 

1 

25 

"19 

"  Cash   . 

4 

84 

50 

1     "    7 

!     "12 

1 

"  Sundries 
"  Mdse.. 

2 
3 

69 
82 

cts. 
00 
00 
13 


The  amount  of  the  Dr.  side  is  $77.50,  and  the  Cr. 
side  is  $126.13.  The  dilTerence  is  $48.63.  If  this 
balance  is  entered  on  the  smallest  side,  the  footing  of 
the  two  sides  will  be  alike,  and  the  account  is  said  to 
be  balanced. 

Rule  as  in  the  text-book,  and  finally  bring  doiun  the 
balance  below  the  ruling,  and  on  tiie  opposite  side,  thus 
beginning  a  new  account,  as  seen  below : 


Dr 


Amos  Bennett, 


Cr. 


1858 

D.B. 

Dols. 

cts. 

1858 

D.B. 

Dols. 

cts. 

Jan.  1 

To  Mdse.   . 

1 

43 

00 

Jan.l 

By  Cash     . 

1 

26 

00 

"  18 

"  Cash 

4 

34 

50 

"     7    "  Sundries 

2 

69 

00 

"  30 

"  Balance 

4 

48 
$■128 

63 

"  12    "  Mdse.   . 

1 

32 

13 

»126 

13 

1858 
Feb.  1 


By  Balance 


$48  I  63 


BOOKKEEPING. 


When  the  Dr.  side  is  tlie  largest,  the  balance  will  bo 
entered  on  the  Cr.  side,  as  may  be  seen  on  Charles  D. 
Emmons's  account  in  tlie  Ledger,  page  1. 

Thoso  accounts  wliicli  arc  settled,  arc  ruled  and 
footed  in  a  similar  m;uinor,  as  in  Frank  Gardner's  ac- 
count, on  the  second  page  ;  and  any  accoinit  which  has 
liut  one  item  on  it,  may  be  left  as  it  is,  like  James  K. 
(jvman's,  on  the  third  page. 

The  c?o.su/;/  cntvjj,  "  To  Balance,  i,  $48.63,"  is  often 
made  with  red  ink,  in  order  to  distinguisli  it  from  the 
other  entries,  which  ai'e  real  debits  or  ci'edits  ;  and  if 
red  ink  is  iised  lor  the  ruling,  it  will  improve  the  ap- 
pearance of  the  books.  But  tliose  who  do  not  wish  to 
take  the  trouble  to  change  the  ink,  may  use  but  one 
color  for  the  whole. 

In  actual  business,  the  accomits  are  generall}-  balanced 
at  the  end  of-  the  3'car ;  and  if  there  is  room  cnougli  in 
the  Ledger  for  another  year's  business,  tlie  balances  are 
brouglit  down,  and  tlie  accounts  are  continued  for 
another  year.  Those  accounts  which  are  settled  before 
the  time  for  closing  the  books,  should  be  balanced  on 
the  Ledger  at  the  time  of  settlement ;  so,  in  this  book, 
whenever  an  account  is  settled,  it  should  be  closed, 
without  waiting  till  the  whole  Day-Book  is  posted. 

BALANCE  SHEET,  OR  BALANCE  ACCOUNT. 

After  closing  the  accounts,  the  unsettled  balances 
7n;iy  be  collected  together  on  wliat  is  called  a  "  Balance 
Sheet,"  or  each  of  these  balances  may  be  carried  to  the 


10 


j  Balance  Sheet,   as   soon  as   the   account   is    balanced. 

'  This  Balance  Sheet,  or  Balance  Account,  is  convenient 
even  when  the  balances  are  browjld  doion  to  new  ac- 

!  count,  because  it  shows  all  the  Inilances  at  one  viow. 

I  All  the  balances  due  from   others,  together  with  the 

!  cash,  notes,  merchandise,  materials,  and  all  other  pi'op- 
crtij  on  hand,  should  be  placed  on  the  Dr.  side  ;  and 
the  balances  due  from  us  fo  others,  as  well  as  the  notes 
we  owe,  if  any,  on  the  Cr.  side.  This  will  be  better 
understood  by  referring  to  the  engraved  form  at  the 
end  of  the  Ledger. 

The  amount  of  Merchandise  on  hand  at  closmg 
the  books  ($1217.73)  is  supposed  to  be  taken  from  an 
Inventory-Book ;  and  the  Cash  ($112.04)  from  the  Cash- 
Book. 

The  difference  between  the  assets  on  one  side,  and 

j  the  debts  on  the  other,  must  be  the  "  net  capital,"  or  the 
"net  insolvency."  When  the  assets  are  more  than  the 
debts,  the  diiference  is  the  net  capital ;  but  when  tliey 

I  are  less,  it  is  called  the  net  insolvency.  Tliis  account 
will  be  closed  like  other  accoxints,  by  entering  the  balance 
(which  in  this  case  is  the  "net  capital")  on  the  smaller 
side,  and  ruling  and  footing  as  usual. 

The  Balance  Sheet,  in  this  book,  is  placed  at  the  end 
of  the  Ledger,  for  convenience ;  though  in  practice  it 
may  bo  put  in  some  other  book.  Whenever  a  new 
Ledger  is  to  be  opened,  the  balances,  as  well  as  the 

{  names,  may  be  taken  from  this  sheet  more  conveniently 

;  than  from  the   old  Ledger,  wliere  they  are  scattered 

!  throuii'liout  tin;  liook. 


BOOKKEEPING 


QUESTIO  NS    ON 

What  is  Bookkeeping  ? 

How  many  methods  uro  there? 

Whut  are  they  called  ? 

In  single  entry,  how  many  entries  are  made  in  the  Ledger  for  each 

entry  in  the  Day-Book  ? 
How  many  in  double  entry  7 
Give  an  example  in  single  entry. 
What  else  would  be  done  in  double  enti-y? 
Whj-  is  double  entry  so  called  ? 

What  kind  of  business  is  represented  in  the  first  set  of  books? 
Why  are  difl'erent  kinds  of  goods  mentioned? 
What  books  are  used  in  this  set  ? 
Why  is  tlie  Cash-Book  omitted  ? 
Should  a  Cash-Book  ha  kept  in  such  a  business? 
What  are  recordeti  in  the  Day-Book? 
When,  and  in  -nhat  order? 
What  should  these  records  contain  ? 
What  will  such  a  history  prevent? 
What  is  said  of  Agreements,  Contracts,  &c.  ? 
What  is  the  Ledger,  and  how  is  it  used? 
What  does  it  show  ? 
What  is  the  process  of  transferring  from  the  Day-Book  to  the 

Ledger  called? 
What  accounts  are  kept  in  single  entry  ? 
What  do  they  show  on  the  Dr.  side? 
What  on  the  Cr,  side? 

In  studying  this  book,  what  is  the  first  thing  to  bo  done? 
What  should  bo  omitted  in  the  copying? 
What  is  said  of  the  rulmg  ? 
What  of  the  blanks? 

How  much  should  be  \vritton  on  one  line  ? 
What  is  nii'ant  by  opening  the  accounts? 
In  what  order  should  the  entries  be  posted? 
How  will  you  post  the  first  entry  ? 


THE     FIRST     SET. 

When  should  the  fost-marh  lie  made?     Why  ? 

What  should  be  posted  next? 

What  is  said  of  the  description  ? 

How  are  mistakes  to  be  corrected  ? 

When  the  Day-Book  is  all  posted,  what  should  be  done  next  ? 

Where  will  you  begin  to  balance  the  accounts  ? 

How  do  you  balance  an  account? 

What  do  you  mean  by  the  bahnre  ? 

On  whicli  side  must  the  balance  lie  entered? 

How  will  the  account  then  stand  ? 

After  closing  an  account,  what  is  to  bo  done  with  the  balance,  if 

any? 
How  do  3'ou  close  an  account  which  is  settled,  or  paid  in  full? 
What  will  you  do  witli  one  which  lias  but  one  item  on  it? 
With  what  kind  of  ink  is  the  closing  entry  often  written? 
Why  is  it  used  ? 
What  is  said  of  the  ruling? 

How  often  do  business  men  balance  their  accounts? 
In  what  case  arc  the  balances  to  be  brought  down  ? 
Slay  an  account  be  closed  at  any  time? 
What  is  to  bo  done  with  the  unsettled  balances,  after  closing  the 

accounts? 
Can  the  Balance  Sheet  bo  made  as  fast  as  the  accounts  are  closed? 
What  is  the  advantage  of  the  Balance  Sheet  ? 
On  which  side  do  we  place  the  balances  duo  to  us?     . 
On  wliich  side  do  we  enter  the  property? 
On  which  side  those  duo  from  us  to  others? 
What  is  the  difference  between  the  assets  and  the  debts  called  ? 
When  is  it  called  net  capital  ? 
When  net  insolvency  ? 
How  will  this  account  be  closed? 

Why  is  the  Balance  Shoot  put  in  the  Ledger,  in  this  liook  ? 
Of  what  use  is  it  in  opening  a  new  Ledger  ? 


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SINGLE  ENTRY. -SECOND  SET. 


The  books  nsocl  in  this  sot  are  the  Cash-I>ook,  Day- 
Bo6k,  and  Lodger.  The  Day-Book  aud  Ledger  are 
similar  to  those  in  the  first  set. 


C  ASn-B  OOK. 

The  main  object  of  keeping  a  Cash-Book  is  to  pre- 
vent mistakes  in  regard  to  the  money,  or  to  enable  us 
the  mc-o  easily'  to  correct  them,  when  they  are  made. 

All  the  money  received,  as  weO  as  that  paid  out, 
should  bo  entered  in  the  Cash-Book,  specifying  for 
what  it  was  received  or  paid  out,  so  plainly  as  to  be 
perfectly  understood,  even  by  a  stranger. 

Tbo  amount  of  Cash  on  hand  at  the  commencement 
of  business,  and  all  that  which  is  received  from  day  to 
day,  is  entered  on  the  left-hand  or  Dr.  side ;  and  that 
which  is  paid  out  is  entered  on  the  Cr.  side. 

The  difference  between  the  two  sides,  at  any  time, 
will  bo  the  sum  which  ought  to  he  on  hand ;  and  the 
amoixnt  actually  on  hand,  including  that  in  the  Bank,  if 
any,  should  agree  with  this  balance.  If  it  does  not 
agree,  some  mistake  has  been  made,  or  a  fraud  com- 
mitted. ^ 

To  balance  tho  Cash  account  at  the  end  of  Sept.  4, 
let  us  suppose  tho  amount  in  the  Bank  to  bo  §200,  and 
tho  amount  in  the  drawer,  or  safe,  $36.05.  The  amount 
in  Bank,  and  that  in  the  Safe,  added  to  tho  amount  paid 

26 


out,  should  be   equal  to  tho  amount  on  hand  at  first, 
added  to  that  which  has  been  received  since,  as  ibllows : 


Dr. 


Cash. 


Cr. 


1858  j 
Sept.  1  To  Stock  . 

"     3  "  H.  Rand 


$250167 
1500 


$265'g7 


Sept.  6|Bal.  brought  down(|?236|05 


1858 
Sept.  1 


Ey  Expense 


Bal.inB'k  §200.00 
"    in  Safe     36.05, 


$1937 
1025 

236:05 


liS266|67 


The  Cash-Book 'sliould  bo  balanced  daily,  in  order  to 
find  the  errors,  before  it  is  too  late  to  correct  them  ;  but 
the  ruling  and  footing  need  not  be  done  on  tho  book 
every  day. 

As  no  more  Cash  can  be  paid  out  than  has  been  re- 
ceived (including  the  amoimt  on  hand  at  first),  the 
amount  of  the  Cr.  side,  if  either,  will  always  be  the 
smallest ;  and  tho  accomit  will  be  balanced  by  entering 
the  difference  between  the  two  sides  on  the  Cr.  side. 

The  Cash-Book  for  this  set  is  represented  as  balanced 
only  at  the  middle,  and  at  tho  end  of  tho  month ;  but 
this  is  done  to  bring  it  within  the  space  of  two  pages. 
Tho  several  items  received,  or  paid  out,  during  the 
week,  are  added,  and  the  amounts  are  carried  into  the 


BOOKKEEPING. 


outside  columns  of  tlic  two  pages,  respectively.  This 
might  as  well  bo  done  every  day,  if  the  entries  were 
numerous ;  but  each  bookkeeper  will  suit  his  own  taste 
or  convenience  in  matters  of  this  kind. 

The  '■■  Balance  on  hand  "  should  include  the  amount 
in  the  Bank,  Avhicli  should  also  he  specified  in  the 
closing  entry. 

It  is  customary,  in  retail  business,  to  keep  an  account 
on  a  slate,  or  in  a  Potty  Cash-Book,  of  the  cash  received 
for  small  sales,  and  to  enter  the  whole  amount  on  tlio 
Cash-Book,  once  a  day.  Such  an  account  is  supposed 
to  be  kept  in  this  set,  and  the  amount  entered  on  the 
Cash-Book,  once  a  week;  and  whenever  the  Cash  ac- 
count is  balanced,  the  amount  on  the  Petty  Cash-Book, 
if  one  is  kept,  must  be  added  to  the  amount  on  the 
Cash-Book. 

DIRECTIONS  FOR  WRITING  THE  SECOND  SET. 

The  learner  may  now  compare  the  Historij  of  the 
Business  with  the  icritten  Day-Book  of  this  set,  to 
see  what  the  transactions  arc,  and  the  proper  form  in 
which  to  enter  them  in  the  Day-Book. 

"When  he  has  become  sufficiently  familiar  with  this 
subject,  he  may  proceed  to  write  the  entries  in  the 
blank  Day-Book ;  not  merely  copying  them  from  the 
text-book,  but  referring,  constantly,  to  the  printed 
"  History,"  instead  of  confining  himself  to  the  written 
Day-Book. 

The  cash  items  must  be  transferred  to  the  Cash-Book, 
as  thov  are  met  with,  thus  carrying  the  Dav-Book  and 


Cash-Book  along  together,  as  in  real  business.  Those 
cash  items  for  which  any  person  is  to  bo  debited,  or 
credited,  must  be  entered  in  the  Cash-Book  and  Day- 
Book  also,  so  as  to  be  posted  from  the  Day-Book ;  and 
in  the  Cash-Book  the  mark  "D.  B."  should  be  placed 
opposite  to  each  of  these  entries,  to  show  that  they  are 
in  the  Day-Book. 

The  following  History  is  not  to  bo  regarded  as  one 
of  the  books  that  would  generally  bo  kept  in  business, 
but  as  given  instead  of  the  real  transactions.  The 
learner  is  to  imagine  that  these  transactions  actually 
occurred,  and  make  the  entries  corresponding  to  them 
in  the  Day  and  Cash  Books  following  them. 


HISTORY     OF     THE    BUSINESS. 

Cincinnati,  September  1,  1858. 

I  commence  business  with  the  following  resources : 
Cash,  82o0.67 ;  Merchandise,  $2560 ;  Notes  duo  me, 
§692.80  :  Charles  Smith  owes  me,  on  account,  $83.52 ; 
James  Carlton,  $60.49  ;  Henry  Rand,  $48.20  ;  Orlando 
Palmer,  825..32. 

I  owe  as  follows :  On  Notes,  $175  ;  to  Preston  and 
Evans,  on  account,  $90.44 ;  to  Harlow  &  Co.,  $25.56. 

Sejit.  1 . 

Paid  John  Sawyer,  for  repairs  on  the  Store,  $19.37. 


Sold  Orlando  Palmer,    on    credit,  a    bbl.    of  Flour,  for 
$7.25. 


=^?= 


27 


BOOKKEEPING 


Sept.  2. 
Sold  James  Carlton,  on  account,  12  gallons  of   Sperm 
Oil,  at  $1..J0  per  gallon  :  *  and  25  pounds  Powdered 
,    Sugar,  at  10  cents  per  pound. 

. —  3  

Bought  of  Ilarlow  &  Co.,  on  account,  4  boxes  Havana 
Sugar,  1642  pounds  net  weight,  at  7i  cents  per 
pound. 

ti  . 

Paid  in  Cash,  for  a  set  of  Account  Books,  $10.25. 

4  


Ileury  Rand  has  paid  mo  $15,  on  his  old  account. 


Sold  Dr.  George  Hammond,  on  account,  30  pounds 
Crushed  Sugar,  at  10  cents  a  pound;  and  50  pounds 
Brown  Havana  Sugar,  at  8^  cents  per  jjouud. 

6  

Bought  of  Preston  &  Evans,  on  account,  Goods  amount- 
ing to  $203.29.      Paid  them  $150  in  Cash. 


Bought  of  "Wm.  Lord,  for  Cash,  Merchandise  amount- 
ing to  $145.20. 


.lames  Carlton  has  paid  mo  $20  on  account. 

*  The  student  should  Cud  the  amount,  himself. 


Sept.  8. 
Orlando  Palmer  has  been  painting  in  the  store  4^  days, 
at    $1.25   per    day,  for   which  I  am    to   give   him 
credit. 

And  1  sell  him  2  pounds  of  Coffee,  at  12J  cents 
per  pound;  and  4  pounds  Crushed  Sugar,  at  12J 
cents  per  pound. 

, 9  

Sold  Charles  Smith,  on  account,  a  barrel  of  Flour  for 
$7,  and  a  barrel  of  New  Orleans  Sugar,  weighing 
234  pounds,  —  weight  of  cask  20,  net  weight  214 
pounds,  —  at  6  cents  per  pound. 

10  ; 

Paid  Cash  for  provisions,  for  my  house,  $7.08. 


Sold  James  Carlton  a  barrel  of  Plour  for  $7,  and  2 
23ounds  of  King  Yong  Tea,  at  45  cents  a  pound. 

Bought  of  him,  2  cords  of  Oak  Wood-  for  the  Store,  at 
$5  per  cord. 

11  

Tho  amount  of  Cash  received  for  Sales  to  this  date,  is 
$324.75. 


Sold  Henry  Rand  a  tub  of  Butter,  CO  pounds,  —  (tub  81,) 
51i  pounds  net, — at  22  cents  a  jiound ;  and  IGJ 
pounds  Cheese,  at  13  cents  a  pound. 


28 


BOOKKEEPING. 


Sept.  13. 
Chai'les  Smith  has  given  me  liis  Note  for  $100,  payablo 
in  30  clays,  in  part   payment  of  his  account. 


Paid  Cash  for  I)ci5k,  Chairs,  Stove,  &c.,  per  bill,  $26.50. 


Sold  Dr.  Geo.  Hammond  a  barrel  of  Flour  for  $7.25,  and 
10  gallons  of  Sperm  Oil,  at  $1.50  per  gallon.  He  has 
presented  his  bill  for  "doctoring"  my  family  for  tho 
past  year,  amounting  to  $16.53,  and  has  paid  the 
balance  of  his  account,  $12.85,  in  cash. 

U ___^ 


Paid  Harlow  &  Co.  $100  on  account. 


Received  of  Samiiel  Carter  the  amount  of  his  Note  :  prin- 
cipal $350,  with  interest  for  three  months,  $5.25. 


Bought  of  R.  B.  Simpson  &  Co.  a  bill  of  Mdse.  amoiint- 
ing  to  $123.45,  for  which  I  gave  my  Note,  payable 
2  mouths  from  date. 

15  


Sept.    16. 
Sold  Samuel  Shipman  a  barrel  of  Flour,  $7.50  ;  a  quintal 
of  Fish,  $4.25;    10  gallons   Molasses,  at  35  cents  a 
gallon,  and  a  pound  of  Black  Tea,  45  cents. 


Received  of  Orlando  Palmer,  on  account,  $10. 
17  


James  Carlton  has  given  me  an  Order  on  Smitli  &Farnum 
for  Mdse.,  to  the  amount  of  $40  ;  and  they  have  de- 
livered me  the  goods. 


Wm.  Grimes  brought  an  Order  from  Charles  Smith,  re- 
questing mo  to  sell  goods  to  Grimes,  to  tlio  amount 
of  $18.46,  and  to  charge  the  same  to  his  (Smith's) 
account ;  and  I  have  delivered  the  Goods. 


Paid  my  Note,  No.  1,  for  $175,  with  interest,  6  montlm 
and  15  days,  $5.69. 


Sold  Dr.  Hammond  a  tub  of  Butter,  56  pounds  .net,  at 

21J  cents  per  pound. 
___^ 18 

Bought  Mdse.  of  Harlow  &  Co.,  on  account,  amounting 
to  $167.19. 


Received  of  Henry  Rand,  on  account,  $17. 


Paid  Cash  for  a  ton  of  Coal,  for  the  Store,  $6.50. 


The  Cash  Sales  this  week  amount  to  $207.38. 


29 


BOOKKEEPING. 


Sept.    20. 
Sold  James  Carlton  a  harrcl  of  N.  0.  Sugar,  208  pounds 
net,  at  5^  cents  a  ponn<l. 


Lent  A.  ]>.  Lunt  $500, talcing  liis  Note  at  60  days,  for  same. 
21  


Received  of  Orlando  Palmer  $7.25,  on  account. 

92 


Delivered  to  Stephen  Williams,  on  Henry  Rand's  Order, 

goods  amounting  to  $12. 
23  . 


Charles  Smith  has  paid  me  $25,  on  account. 
V- 24 


Samuel  Sliipman  has  sold  mc  6  harrols  of  Apples,at  $2.12| 
per  barrel,  and  paid  the  balance  of  liia  account  in 
Cash,  $2.95. 


Sejd.    27. 
C.  F.  Gerry's  Note,  No.  2,  was  paid  in  to-day,  amounting 

to  $342.80. 
«   : 

Gave  Harlow  &  Co.  Charles  Smith's  Note,  dated  13th  of 
September,  for  $100 ;  and  also  my  Note,  payable  60 
days  from  this  date,  for  $40. 


The  Cash  Sales  last  week  amounted  to  $295.16. 

28  


Henr^'  Rand  has  passed  a  Note  to  mc,  which  he  had  pre- 
viously received  of  Zenas  Upham,  for  $25. 

. 29  

Gave  Preston  &  Evans  my  Note,  on  demand,  for  the 
balance  due  them,  $93.73. 

30  


Paid  Preston  &  Evans  $50,  on  account. 


^0 


Paid  a  l)ill  for  Clothing,  for  myself,  $23.95. 


Paid  Harlow  &  Co.  $50  on  account. 


Sold  James  Carlton  a  barrel  of  Molasses,  containing  30 
gallons,  at  28  cents  per  gallon,  and  took  his  Note,  on 
demand,  for  the  balance  of  his  account,  $38  73. 


Paid  my  Clerk's  salary  for  the  month,  $30. 


Cash  Sales  for  this  week,  $169.48. 


The  Butter  which  I  sold  to  Henry  Rand  on  the  Uth  day 
of  this  month,  not  proving  as  good  as  I  thought  it 
was,  I  have  made  him  a  deduction  of  $1.50. 


Having  taken  an  Inventory  of  the  goods  in  the  store, 
I  find  the  amount  to  be  $2543.21.  I  have  Notes  against 
various  persons,  amounting  to  $563.73.  I  owe  Notes 
amounting  to  $257.18. 


30' 


SECOND     SET. —  DAY-BO  OK. 


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-K< 


BOOKKEEPING 


DffiECTIONS  FOR  POSTING  AND  CLOSING. 

When  the  learner  has  written  the  Day-Book  and  Cash- 
Book,  he  may  proceed  to  post,  as  in  the  first  set.  The 
Ledger  should  contain  only  the  Personal  Accounts,  and 
therefore  no  entries  will  be  posted  but  those  in  which  some 
person  is  debtor  or  creditor. 

Although  this  set  represents  the  business  of  only  one 
month,  yet  everything  is  done  in  the  same  manner  when  the 
books  are  closed  only  once  a  year. 

In  practice,  the  Personal  Accounts  are  not  closed  till 
they  are  settled,  unless  the  Ledger  is  full,  and  a  new  one  is 
to  be  opened. 

The  Ledger  is  omitted  here,  that  the  learner  may  be 
obliged  to  rely  more  upon  himself,  and  prove  his  own  work. 

REVIEW. 
From  the  statement  on  the  first  page  of  the  Day-Book,  it 
appears  that  I  commenced  business  with  resources  of  various 
kinds,  amounting  to  $3721,  and  that  I  owed,  at  the  same 
time,  $291,  making  the  Net  Capital  §3430. 
My  present  Assets  are: 

per  Invt.-Book,  $2543.21 

Cash-Book,       TSG.OO 

Bill-Book, 

Ledger, 


Merchandise, 

Cash, 

Notes,  due  me, 

Henry  Eand  owes  me, 

0.  Palmer,         " 

Dr.  riammond,  "       " 

My  present  Liabilities  are  : 

I  owe,  on  Notes,  per  Bill-Book,    .     . 

"     "     Charles  Smith,  per  Ledger,     . 

"     "    Harlow  &  Co.,    " 

My  present  Net  Capital,  therefore,  is 


45 


563.73 
15.21 
10.44 
12.04  $3900.63 


$257.1jf'C 
3.18 
25.90     $286.26 
.     .     .    $3614.37 


Net  Capital  brought  lip,  $3614.37 

From  which  subtract  the  original  Net  Capital,      .      3430.00 

And  the  difierence  is  the  Net  Gain, $184.37 

But  I  have  spent  iti  Cash,  for  my  own 

use  (see  Cash-Book),        $31.03 

And  I  have  also  paid  Dr.  Hammond's 
bill,  for  my  family,  in  goods,  per  Day- 
Book,  page  4,     ■    .         16.53        47.56 

Total  Net  Gain, $231.93 


The  amount  spent  on  my  own  personal  account,  $47.56, 
should  be  counted  among  the  gains  ;  because,  if  it  had  not 
been  spent,  it  would  now  be  on  hand,  either  in  Cash,  Goods, 
or  something  else. 

This  set  of  Books,  together  with  the  first,  is  an  example 
of  what  might  be  called  pure  Single  Entry,  as  the  Ledger 
contains  only  Personal  Accounts. 

A  Stock  Account,  to  show  the  amount  of  capital  invested, 
&c.,  would  be  convenient ;  but,  as  it  properly  belongs  to 
Double  Entry,  it  is  not  inserted.  All  the  necessary  facts 
can  be  obtained  from  the  statement  of  the  resources  and 
liabilities  on  the  first  page  of  the  Day-Book. 

The  Net  Capital  niay  be  found,  at  any  time,  by  subtract- 
ing the  whole  amount  of  the  debts  from  the  whole  amount 
of  the  property,  including  what  is  due  from  others.  But 
when  the  debts  exceed  the  assets,  the  difierence  is  called 
the  Net  Insolvency. 

The  Net  Gain,  or  Net  Loss,  may  always  be  found  by 
comparing  the  Not  Capital  at  the  commencement  with  that 
at  the  close  of  the  business. 


B  O  0  K  K  E  E  P  I  -X  G 


QUESTIONS     ON     THE 

TVhat  kill  (if/bueiness  is  represented  by  this  set? 

What  )>()aks  lire  uted? 

"Why  il)  hjbness-men  keep  a  Casli-Book? 

"Wliat  if  entered  in  it?     Why? 

What  is  put  on  tlio  left-hand  side  ? 

Whtjt  on  the  right-hand,  or  Cr  side? 

Wliijt  will  the  diffevenco  between  tlio  two  sides  show? 

Wl^t  must  agrco  vitli  this  amount? 

If  tt'daos  not  agree,  what  is  tlie  conduKion? 

Pj/aso  state  the  wliole  process  of  balancing  the  Cash-Book. 

Hi6w  often  should  tlic  Cash-Book  l)0  balanced?     Why? 

What  is  said  of  tlic  ruling  and  footing  ? 

Can  the  amount  paid  out  ever  exceed  that  received  ? 

Which  will  bo  the  largest,  if  cither,  the  amount  received,  or  that 

wliich  is  jxiid  out? 
IIow  often  is  the  Cash-Book  in  this  set  balanced?     Wliy? 
Wliat  sliould  be  included  in  the  "Balance  on  hand  "  ? 
For  what  is  t!io  Potty  Cash-Book  used  ? 
IIow  often  is  the  amount  transferred  to  the  Cash-Book?    • 
IIow  often  in  tliis  set?     Wliat  is  said  of  Iiahmcing? 
IIow  will  j-ou  commence  the  study  of  tliis  sc^t? 
IIow  sliould  the  entries  be  made  in  the  Ijlaiik  Day-Book? 
What  is  said  of  the  Cash  items? 

IIow  shoulil  Cash  on  account  bo  entered,  and  how  marked? 
What  is  said  of  the  "  History  "  ? 
Is  such  a  book  now  generally  kept? 
Wliat  is  the  first  record  in  tlie  history  ? 
What  is  the  first  transaction  wliich  is  recorded?     In  which  book 

sliould  it  lie  entered  ? 
What  is  the  second  transaction,  and  liow  should  it  bo  recorded  ? 


SECOND     SET    (SINGLE). 

Please  state  how  each  of  the  records  in  ihe  History  should  be 

entered  in  the  Day  or  Cash  Book  ? 
What  statements  are  made  at  the  end  of  the  Day-Eoolc? 
What   is   the   lirst   account   in    the   Ledger?     Why   is   this   put 

first  ? 
What  entries  are  to  bo  omitted  in  posting  ? 
What  length  of  time  is  covered  by  this  set? 
Would  the  hooks  be  opened  and  closed  in  tlic  same  manner  if  the 

time  were  longer? 
How  often  arc  the  personal  accounts  balanced  by  bookkeepers? 
On  what  accounts  are  the  balances  in  my  favor? 
On  which  are  they  against  mo? 
Whicli  accounts  arc  settled  in  full? 
Which  lias  but  one  ilcm  on  each  side? 
With  what  capital  did  I  commence? 
What  is  the  value  of  the  JIdse.  i-cmaining  unsold? 
How  much  cash  is  there  on  hand  ? 
Wliat  IS  the  amount  of  the  notes  duo  me?    How  much  does  Henry 

Band  owe  me  ?  —  Orlando  Palmer  ?  —  Dr.  Hammond  ? 
Wliat  is  the  wliole  amount  of  my  assets  ? 
IIow  much  do  I  owe  ? 
Of  what  items  do  my  debts  consist  ? 
W  hat  is  ray  presrait  not  capital  ? 
How  much  have  I  gained  by  the  business  ? 
How  much  have  I  spent  for  my  ovm  use? 
Should  tliat  bo  counted  as  a  part  of  the  gain?     Why? 
Wliat  is  said  of  the  first  two  .sets  of  Boolcs? 
AYhy  is  there  no  stock  account  in  this  set? 
How  may  the  net  C!f[>ital  always  bo  found  ? 
How  the  gain  or  loss  ? 


46 


BOOKKEEPING. 


EXAMPLES  FOR  PRACTICE. 

(adapted    to    the    business    of    FAHMEIiS    AND    MECHANICS.) 

The  following  iiistoiy  of  supposed  transactions  is 
given  to  afford  the  learner  more  practice,  not  only  in 
posting  and  balancing  the  accounts,  but  also  hi  making 
the  original  entries  in  the  Day  and  Cash  Books,  which 
should  be  made  in  a  style  similar  to  that  in  the  fore- 
going sets. 

Let  the  Day-Book  first  be  written  out  from  tlie 
history  ;  then  posted  to  the  Ledger  :  and,  finally,  let  the 
accounts  be  balanced,  and  the  whole  work  be  proved, 
as  in  the  preceding  Sets. 


Worcester,  October  I,  1858. 


My  Farm  and  Buildings  are  valued  at  ... 
Stock  of  Cattle,  Sheep,  Horses,  Swine,  &c.. 
Carriages,  Farming  Tools,  &c.,  .... 
Household  Furniture,  Clothing,  (tc,  .  . 
Produce  of  various  kinds,  on  hand,  . 
Cash,  on  hand, 


$4500 
950 
325 
275 
480 
50 


$6580 


Oct.  L. 


James  Murray  lias  commenced  to  work  for  me,  at  $22  a 

month,  boarding  himself 
2 

Sold- Daniel  Warren,  on  account.  40  bushels  of  Corn,  at 
$1  a  bushel,  and  25  bushels  of  Oats,  at  42  cents. 


Oct.  4. 
Sold  Edward  Sumner,  on  account,  10  bushels  Potatoes, 
at  75  cents ;  2  bushels  White  Beans,  at  $2.25 ;  and 
10  bushels  Wheat,  at  90  cents. 

. 5  ' 

Bought  of  George  Pierce,  on  account,  50  pounds  Brown 
Sugar,  at  8  cents ;  20  pounds  White  do.,  at  10 
cents;  2  pounds  Black  Tea,  at  45  cents;  and  10 
pounds  Ground  Coliee,  at  15  cents.        • 

6 ^ 

Sold  George  Noyes,  2  cords  Maple  Wood,  at  $5.50, 
and  1  cord  Pine  do.,  at  $3.25. 


Paid,  in  advance,  for  a  Newspaper, 
9 


Received  of  Daniel  Warren,  Cash,  on  account, 

u    


Balance  of  Cash  on  hand,  $77. 
11  

Paid  J.  S.  Smith,  for  a  Wheelbarrow,  $5.25. 
13  


Bought  of  George  Pierce,  on  account,  1  bbl.  Molasses, 
containing  33  gallons,  at  26  cents. 

47 


BOOKKEEPING 


Oct.  15. 
Paid  John  Kelly,  Cash,  for  5  days'  labor,  harvestiug,  at 

90  cents  per  day. 
16  

Sold  Owen  Taylor,  on  acct.,  2  tons  Clover  Hay,  at 
$15;  1  ton  Rye  Straw,  $6;  and  50  bushels  Oats; 
at  40  cents. 


I  owe   Charles  Woodman,  for  4  days'   labor,  building 
Fence,  this  week,  at  .$1  per  day. 


Amount  of  Cash  on  hand,  $67.25..-    "" 
18  


I  owe  Edward  Sumner,  for  mending  my  Ox  Cart,  $4.62. 
20 


I  have  ploughed  for  Lyman  Capcn  3  days,  self,  1  man, 
and  2  pairs  of  oxen,  at  $3.25  per  day. 

21  

Paid  Charles  Woodman,  in  past. 


f' 


Bouglit  of  Daniel  Warren,  on  account, — 

1  piece  Sheeting,  31  yards,  at  8  cents  per  yard. 
22  yards  Ticking,  at  15  cents. 
10  yards  print,  at  12J  cents. 

■        48 


Oct.  22. 
Bought  of  Edwin  Wyman,  1  pair  thick  Boots,  $2.50 ; 
1  pair  Ladies'  Kid  Slippers,  75  cents;  and  1  pair 
Boys'  Boots,  $1.75. 

^23^ 


Paid  for  Shoeing  my  Horse,  80  cents. 


Charles  Woodman  has  worked  lor  me,  this  week,  5  days, 
at  $1.     Paid  him  Cash,  in  full. 


QSlx  on  hand,  $57.45. 


25 


Bought  of  Daniel  Warren,  on  acct.,- 
10|  yards  Print,  at  14  cents. 
12  yards  Silk,  at  75  cents. 
2  yards  Ribbon,  at  20  cents. 

27  


Bought  for  Cash,  a  Hat  for  $3.75  ;  a' pair  of  Kid  Gloves, 
$1 ;  and  a  Black  Silk  Cravat,  $1.50. 

28 

Sold,  for  Cash,— 

A  tub  of  Butter,  48  pounds  net,  at  19  cents. 
12  bushels  Corn,  at  95  cents. 
20  bushels  Oats,  at  40  cents. 

29  


Paid  my  taxes,  aniounling  to  $41.67. 


BOOKKEEPING. 

Oct.  30. 
John  Kelly  has  worked  for  me,  this  week,  6  d.iys,  at  92 
cents.     Sold  him  3  hushels  Potatoes,  at  65  cents. 

Nov.  6. 
Paid  for  labor  this  week,  $15;  —  Cash  on  hand,  $50.05. 

8 

Sold  James  Murray,  6  bushels  Potatoes,  at  60  cents ;  2 
bushels  Corn,  at  90  cents ;  1  bbl.  Apples,  $2. 

9 

George  Noyes  has  painted  my  house,  for  which  I  am  to 
give  him  $36,  as  agreed. . 

11 

Bought  of  J.  S.  Smith,  for  Cash,  a  Market  Wagon,  for 

$45. 

^9. 

Samuel  Rockwood  has  Lathed  and  Plastered  a  Room, 
the  basement  of  my  house,  47  square  yards,  at  18 
cents. 

n 

Received  of  Owen  Taylor,  Cash  on  acct.,  $25. 

(I 

Paid  George  Pierce,  Cash,  on  acct.,  $10. 

ii 

Cash  on  hand,  $53.05. 

Nnvpm.bp.r  1.  

Bought  of  Lyman  Capen,  a  quarter  of  Beef,  weighing 
185  pounds,  at  7  cents. 

3    

Sold  John  Kelly,  2  bushels  Corn,  at  90  cents. 

4 

Received  of  Edward  Sumner,  on  acct.,  $12. 

5 

Bought   of  George    Pierce,  1    quintal    of  Fish,  $3.50; 
10  gallons  Sperm  Oil,  at  $1.25 ;  |  povmd  Nutmegs, 
75  cents  ;  2  pounds  ground  Cinnauion,  at  40  cents ; 
^  pound  Allspice,  35  cents ;  1  pound  Black  Pepper, 
25  cents;  2  pounds  Ginger,  at  18  cents. 

Sold  Edward   Sumner,  20  bushels  Corn,  at  95  cents ; 
J  ton  Hay,  $7.50 ;  10  bushels  Oats,  at  40  cents. 

,  13 

Sold  for  Cash,  3  tons -Hay,  at  $15 ;  2  tons  Oat  Straw,  at 
$9  ;  64  bushels  Oats,  at  40  cents. 

Sold  Samuel  Rockwood,  4  bbls.  Winter  Apples,  at  $2.25  ; 
1  1)1  il.  Sweet  do.,  $2.50. 

Paid  for  Labor,  $12.50 ;  —  Cash  on  hand,       S  A^^ 

49 

7/-' 


BOOKKEEPING. 


Nov.  15. 
Horace  Cutter  has  made  mo  a  "  Suit  of  Clothes,"  for 
$35,  for  which  I  am  to  pay  him  in  Produce. 

\ .    IG  

Edwin  Wyman  has  made  me  a  pair  of  Calf  Boots,  for 

$4;  and  2  pairs  Boys'  Shoes,  at  $1.25. 
17 

James   Murray    owes    me,   for   Pasturing   his    Cow   3 
months,  $1.50;  and  for  4  pounds  butter,  at  20  cents. 

18  


Paid  for  Threshing  Grain,  $11.75 
"     "     Mending  Plough,      2.37^ 


MJl. 


Sold  Daniel  "Warren,  a  tub  of  Butter,  40  pounds,  at 
20  cents ;  a  quarter  of  Lamb,  9  pounds,  at  7  cents ; 
\  bushel  beans,  $1.25. 

• 19 

Sold  George  Pierce,  1  ton  Hay,  $15  ;  15  bushels  Corn, 
at  88  cents;  25  bushels  Oats,  at  42  cents;  20 
bushels  Potatoes,  at  GO  cents. 

20  

Paid  my  Subscription  for  the  support  of  Preaching,  $15. 
Amount  of  Cash  now  on  hand,     if^-fid 


Daniel  Warren  has  given  me  his  Note,  payable  three 
months  from  date,  for  the  amt.  he  owed  me. 


Nov.  22. 

Sold    George    Noyes,    2   bbls.    Apples,  at   $2.37 J ;    12 

bushels   Potatoes,  at  CO   cents ;   4  gallons  Apple- 
Sauce,  at  20  cents. 


Samuel  Eockwood  has  had  my  Horse  and  Wagon  2 
days,  at  75  cents. 

23  

Paid  Cash  for  8  Thousand  No.  1  Shingles,  at  $2.75. 

"       "       "  50  pounds  Nails,  at  5^  cents. 
24  


Sold  Horace  Cutter,  6  bushels  Corn,  at  88  cents; 
5  bushels  Potatoes,  at  62  cents;  18  pounds  Butter, 
at  20  cents. 


Received  of  Owen  Taylor,  Cash,  in  full,  of  his  acct. 


Settled  with  Lyman  Capen.     Balance  p:iid  in  Cash. 
25  . 


Sold  Edwin  Wyman,  10  pounds  Butter,  at  20  cents. 
26  


Edward  Sumner  has  been  Shingling  my  Barn,  3  days, 
self  and  2  men,  at  $3.50  per  day. 

. It 

Paid  James  Murray,  Cash  on  acct.,  $10. 


50 


BOOKKEEPJNG. 


h 


Nov.  26. 
Sold  Edwin  Wyman,  25  pounds  Salt  Pork,  ;it  11  cents; 
1  bushel  beans,  at  $2.50 ;    2  gallons  Vinegar,  at 
17  cents. 

-27 

Paid,  for  Mending  Harnesses,  $1.25. 

"      "   a  pair  of  Buckskin  Gloves,  $1.50. 

28  


John  "Kelly  has  worked  for  me  three  days  more,  at  80 
cents  per  day.     Paid  him  Cash,  in  full. 


Received  George   Pierce's  Note,  on  demand,   for  the 
balance  of  his  acct. 

29  

Paid  Edwin  Wyman,  for  the  balance  of  his  acct. 

(1   


Sold  Horace  Cutter  a  Cheese,  28|  pounds,  at  10  cents: 
3  cords  Hard  Wood,  at  $G  ;  1  cord  Pine  do.,  $3.50. 
Received  of  him  the  balance  of  the  acct.  in  Cash. 

30 

Settled  with  James  Murray.  He  has  worked  for  me 
2  months,  at  $22.     Paid  him  Cash  for  the  balance 

of  his  acct. 

, II    

My  Farm  and  Buildings  are  now  worth     .     .     .  $4G00 

Cattle  and  Personal  Property, 1700 

Produce  on  hand, 365 

Cash, 


DAY-BOOK  AND  LEDGER  COMBINED. 

After  writing  up  this  set  in  the  common  form,  the 
learner  is  advised  to  go  through  it  again,  in  the  follow- 
ing form,  which  will  be  found  very  convenient  for 
Farmers,  Mechanics,  Professional  Men,  <tc.,  who  are 
doing  a  very  limited  business. 

The  entries,  instead  of  being  made  in  the  Day-Book, 
and  afterwards  posted  to  the  Ledger,  are  made  directly 
upon  the  several  accounts  in  the  Ledger,  which  is  ruled 
like  a  Day-Book,  so  as  to  allow  room  for  recording  all 
the  particulars,  as  fully  as  Avould  be  desirable  in  the 
Day-Book  itself  The  debits  and  credits  may  be 
entered  on  the  same  page,  in  the  order  of  the  several 
transactions,  the  amounts  being  carried  into  separate 
columns ;  or  the  debits  and  credits  may  be  entered 
separately  on  opposite  pages.  The  former  method 
takes  less  space,  and  is  therefore  preferred ;  but  it 
requires  care  to  avoid  carrying  the  amounts  into  the 
wrong  columns.  A  few  accounts  are  given  (in  part)  on 
the  next  page  as  illustrations. 

PARTNERSHIP. 
In  opening  the  books  of  a  partnership,  each  partner 
should  be  credited  for  the  amount  invested  by  him,  and 
subsequently  for  his  share  of  the  gains.  He  should  also 
be  debited  for  such  of  his  old  debts  as  the  firm  agree  to 
pay  for  him,  and  for  the  money  or  other  property  which 
he  takes  out,  from  time  to  time,  for  his  own  use.  In 
other  respects,  the  books  of  a  partnership  are  kept  in 
the  same  manner  as  those  of  one  man. 


51 


DAY-BOOK     AND      LEDGER     COMBINED. 


Daniel  Warren. 


Dr. 


Cr. 


1858 

October 

2 

It 

9 

21 

(I 

a 

1858 

October 

5 

i( 

« 

(( 

a 

« 

ti 

« 

13 

1858 
October    6 


To  40  busbels  Corn,  at  $1, :     .   '  $40  00 

"   25      "        Oats,  "  42  cents, 10  50 

By  Cash, 

"    31   yards  Sheeting,  at    8  cents, 

"    22      "        Ticking,     "  15     "        

"    10      "        Print,    '     "  12J   "        

George  Pierce.  Dr. 

By  50  pounds  Brown  Sugar,       at    8  cents, 

"    20       "       White        "  "  10     " 

"      2       "       Black  Tea,  "  45     " 

"    10       "        Ground  Coffee,      "  15     " 

"      1  barrel   Molasses, 33  gals.,"  26     " 

George  Notes.  Dr. 

To  2  cords    Maple  Wood,  at  $5.50, 1100 

"     1     "         Pine        "       3  25 


$30  00 

2  48 

3  30 
1,25 


Cr. 


4  00 
2i00 

90 
150 
8  58 


Cr. 


52 


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BOOKKEEPING. 


EXPLANATION  OF  BUSINESS  FORMS. 


THE    BILL-HEADING. 

This  is  the  common  form  for  a  Bill  of  Parcels,  written 
at  the  time  of  the  sale,  and  given  by  the  seller  to  the 
buyer.  If  the  payment  is  not  made  at  the  time,  the 
signature  is  omitted ;  but  if  the  payment  is  made,  the 
bill  should  be  receipted  and  signed  thus : 

If  the  payment  is  received  by  a  clerk  or  other  person 
who  is  not  fully  authorized  to  sign  the  name  of  the 
firm,  he  should  add  his  own  name,  thus : 

The  Bill,  after  it  is  receipted  and  signed,  is  kept  by 
the  purchaser,  as  evidence  not  only  of  the  payment,  but 
also  of  the  time,  price,  quality,  &c. 

RECEIPTS. 

When  money  is  paid  by  one  person  to  another,  it 
is  not  enough  that  the  parties  are  respectively  debited 
or  credited;  because  such  entries  might  be  made  by 
one,  without  the  knowledge  of  the  other.  But  the 
receiver  should  state  in  writing  that  the  money  was  re- 
ceived frora  the   other  person,  at  such  a  time,  and  for 


'  such  a  purpose.  This  statement  signed  by  the  receiver 
of  the  money,  and  called  a  receipt,  is  kept  by  the  other 
person,  and  is  conclusive  evidence,  unless  it  can  be 
shown  that  the  paper  is  a  forgery,  or  that  a  mistake  has 
been  made,  or  something  omitted. 

Receipt  on  Account.  — This  may  be  either  for  a  part 
or  the  whole  amount  due  from  a  person  on  a  Ledger 
account,  and  he  should  be  credited  for  it  on  the  Day- 
Book  or  Journal. 

Receipt  in  Full. —  A  receipt  in  full  of  accounts  has 
refei'ence  to  accounts  only ;  but?  a  receipt  in  full  of  all 
demands  cuts  off  all  notes  and  claims  of  any  kind,  to 
that  date,  betweeen  the  parties  themselves. 

The  Receipt  for  a  Sum  to  be  Endorsed  is  given 
when  the  Note,  on  which  the  endorsement  is  to  be 
made,  is  not  at  hand.  But  when  the  Note  is  found  the 
endorsement  is  also  made. 

Receipt  for  a  Sum  paid  by  a  Third  Person. — The 
names  of  both  the  debtor  and  the  messenger  are  in- 
cluded ;   but  the  debtor  only  is  credited  on  the  books. 

A  Receipt  for  Property  of  any  kind,  left  in  the  care 
of  the  receiver  for  storage,  or  for  any  other  purpose, 
should  specify  the  facts  in  all  their  particulars. 

D  U  E-B  ILLS. 

A  Due-Bill  is  paper  by  which  a  debtor  indirectly 
promises  to  pay  a  certain  sum  in  Cash,  or  some  specified 
kind  of  property.  If  payable  on  demand,  or  in  mer- 
chandise, it  does  not  bear  interest  till  payment  has  been 
demanded,  unless  interest  is  mentioned  in  it. 


BOOKKEEPING. 


NOTES. 

A  Note  is  a  written  promise  to  pay  a  given  snm  to  a 
certain  party,  at  some  future  time.  If  it  is  made  pay- 
able to  a  certain  person,  and  dues  not  contain  the  words 
"  or  order,"  or  "  or  Lcarcr,"  it  can  bo  collected  by  that 
pers(5n  only.  But  if  it  i.s  jiayablo  to  the  hearer,  or  to 
some  person,  or  hearer,  any  person,  who  may  liavo  it  in 
his  possession  when  it  falls  due,  may  collect  it ;  and  it 
may  be  sold  or  passed  from  hand  to  hand  indefinitely. 

If  it  is  made  paj'able  "  to  the  order  of"  any  partic- 
ular person,  or  to  that  person  or  his  order,  then,  if  he 
transfers  it  to  another  person,  he  must  write  his  own 
name  across  the  back  of  it.  This  is  called  an  endorse- 
ment, and  is  either  in  hlanh,  consisting  of  the  name  of 
the  endorser  only,  —  in  which  case  the  bearer  or  holder 
may  collect  it  when  it  becomes  due, —  or  the  endorse- 
ment may  be  in  full,  consisting  of  the  name  of  the 
endorser,  and  also  that  of  the  person  to  whom  it  is 
transferred  and  thus  made  payable. 

A  Note  on  Demand  is  payable  whenever  payment  is 
demanded  in  the  presence  of  a  witness,  and  bears 
interest  from  that  time,  or  from  the  thne  when  a  suit 
for  its  collection  is  commenced,  whether  interest  is 
specified  in  the  Note  or  not. 

A  Note  payable  at  a  specified  time  boars  interest 
from  the  end  of  that  time. 

A  Joint  and  Several  Note,  so  called,  is  ono  which  is 
signed  by  two  or  more  persons,  not  partners,  and  the 
j)aymoiit  may  be  demanded  of  all  the  signers  together, 
or  of  either  one  of  them,  as  the  holder  may  choose ; 


but  when  jiaj-ment  has  been  made  by  ono  or  more  of  the 
signer:;,  tlio  others  arc  released  from  any  further  liability. 

A  Note  Payable  in  Mepx-iiandise  i.;  not  entitled  to 
grace,  because  it  is  i)resinned  that  the  merchandise  or 
property  is  on  hand,  and  can  be  paid  at  ono  time  as  well 
as  another,  though  the  cash  might  not  be. 

Notes  for  Different  States  vary  in  foi-m,  to  comply 
with  the  recpiirements  of  the  laws  of  the  several  States 
where  they  are  made. 

A  Note  to  be  Discounted  at  a  Bank  should  not 
specify  interest.  Wien  it  is  left  at  the  Bank  to  bo 
discounted,  the  person  to  whom  it  is  payal)lo  must 
endorse  it;  and  then,  if  the  officers  of  the  Bank  arc 
willing  to  discount  it,  they  compute  the  interest  on 
the  sum  named  in  Iho  Note  for  the  time  it  has  yet  torun, 
and  subtracting  it  from  the  former,  they  give  to  the 
holder  of  tlie  Note  the  remainder,  which  is  thence  called 
the  2^>'occcds  or  avails.  The  Note  itself  is  taken  and 
kejJt  by  the  Bank,  till  it  is  paid  l>y  the  original  signer. 

Days  of  Grace.  —  Generally  three  days,  called  days 
of  grace,  are  allowed  to  the  payor,  in  additiJfi  to  the 
time  specified  in  the  Note,  in  which  to  pay  it ;  and  if 
it  is  not  paid  at  the  end  of  this  time,  it  is  protested. 
The  process  of  protesting  is  as  follows: 

An  officer,  called  a  "  Notary  Public,"  takes  the  Note, 
calls  on  the  signer,  and  requests  him  to  pay  it.  If  he 
refuses  or  neglects  to  do  it,  the  Notary  notifies  the 
endorser,  in  writing,  of  the  non-payment,  and  the  Bank 
then  looks  to  the  endorser  for  the  payment  of  the  Note, 
with  the  cost  of  protesting,  <fec.     If  both  the  signer  and 


BOOKKEEPING. 


endorser  neglect  to  make   payment,  the   Bank,  or  the 
holder  of  the  Note,  may  sue  either  or  both. 

An  Order  is  a  written  request  for  the  delivery  of 
goods  or  property  of  some  kind  to  a  third  person,  and 
is  kept  by  the  deliverer  as  evidence  of  his  authority. 

An  Order  for  the  payment  of  a  sum  of  money  at 
some  future  time  named  may  be  accepted  by  the  person 
on  whom  it  is  drawn,  who  is  thereby  bound  to  pay  it 
when  it  is  due. 

DRAFTS. 

A  Draft  is  an  order  for  the  payment  of  a  sum  of  money, 
either  at  sight,  or  at  the  expiration  of  a  certain  time. 

A  Draft  at  Sight  is  payable  when  presented,  eitlier 
with  or  without  grace,  according  to  the  laws  of  the 
several  States.  In  Vermont,  Connecticut,  New  York, 
Pennsylvania,  Maryland,  Virginia,  Georgia,  Florida,  Mis- 
sissippi, Tennessee,  Missouri,  and  California,  no  grace  is 
allowed.  But  in  Maine,  New  Hampshire,  Massachusetts, 
N.  Carolina,  So.  Carolina,  Alabama,  Indiana,  Iowa,  Michi- 
gan, and  Wisconsin,  grace  is  allowed ;  while  in  the  other 
States  of  the  Union  there  are  no  laws  on  the  subject, 
and  the  practice  is  not  perfectly  uniform. 

Drafts  or  Bills  payable  on  demand  are  not  gen- 
erally entitled  to  grace. 

A  Draft  on  Time  is  payable  at  the  end  of  a  speci- 
fied nimiber  of  months,  or  days,  with  the  usual  days  of 
grace.  It  may  be  drawn  so  as  to  be  payable  at  a  certain 
length  of  time  from  its  date,  or  from  sight, — that  is,  from 
the  time  wlicn  tlie  person  on  whom  it  is  drawn  first 
sees  it, —  or  the  time  when  it  is  presented  for  acceptance. 


BILLS    OF    EXCHANGE. 

A  Bill  of  Exchange  is  similar  to  a  Draft ;  but/when 
drawn  on  a  distant  place,  several  copies  (usually  three) 
are  made;  and  these  are  called  a  Set  of  Exchange. 
These  several  copies  are  sent  by  different  conveyances, 
so  that  there  may  be  no  delay  in  regard  to  their  arrival. 
They  are  so  written  that  when  one  of  them  has  been 
paid  or  accepted,  the  others  are  of  no  value.  The  first 
contains  this  clause,  "  Second  and  Third  of  the  same 
tenor  and  date  unpaid,  pay  to  the  order,"  &c. ;  by  which 
is  meant,  that  if  neither  the  second  nor  third  copies 
of  this  biU  have  been  paid  or  accepted,  then  the  party 
on  whom  it  is  drawn  is  requested  to  pay  or  accept 
this.  The  other  two  copies  are  written  in  a  similar 
style,  except  the  variation  of  the  words  first,  second, 
and  third. 

A  Bill  of  Exchange  or  Draft  is  accepted  by  writing 
across  the  face  of  it,  usually  with  red  ink,  the  word 
"  Accepted,'"'  with  the  signature  of  the  party  accepting 
it ;  and  if  payable  at  a  certain  time  "  after  sight,"  the 
date  of  the  acceptance  should  also  be  added.  Thus :  If 
A.  E.  accepts  a  Draft  on  the  lOtli  of  Sept.,  1858,  payable 
60  days  after  sight,  the  form  of  his  acceptance  would  be  : 
"Accepted,  September  10,  1858. 

©^  ^r 

The  Protest  for  non-payment  of  a  Draft  or  Bill  of 
Exchange  is  similar  to  that  of  a  Note ;  but  a  full  state- 
ment of  the  process,  and  of  the  laws  and  customs  re- 
lating to  Bills,  would  occupy  more  space  than  can 
profitably  be  devoted  to  it  in  this  work. 


A    TIME    TABLE, 

To  find  the  exact  mimber  of  tnonths,  or   days,  from   any  day  in  one   month  to  tlic  same   day  of  any  other   month,   not   mare 

than  a  year  distant. 

- 

No.  ofl 
Month. 

1 

2 

3 

4 

5 

6 

7 

8 

9 

10 

11 

12 

'                                  Days  in  a  Month.      31         28-9         31            30            31            30           31            81          30           31            30            81 

From                                                                 To 

JAN. 
12 

365 

FEB. 

1 
31 

MAE.      APE.    '  MAT.     JUNE.     JULY. 

2          3          4          5           6 
59         90    1   120   1    151       181 

AUG.     SEPT. 

7-        8 
212      243 

OCT. 

9 
273 

NOV. 

10 

304 

DEC. 
11 

334 

^-™--{      D'^^f-        \sL 

12 
365 

1           2 
28    1    59 

3 

89 

4 
120 

5 
150 

6 
181 

7          8          9         10 
212      242      273      303  ' 

■Kir     „              (       Months.         !     10 

March.         -^      t~v                     onn 

\      Days.            j   306 

11         12 
337    1   365 

1 
31 

2 
61 

3 

92 

4 
122 

5     16     17          8 
153       184  1  214      245 

9 

275 

^■—   j  D™:."'- 

9 

275 

10         11 
306      334 

12 
365 

1     !     2     1     3     1     4 
30    1    61     i    91     i   122 

5     i     6 
153      183 

7 
214 

8 
244 

..  ^               (      Months.             8          9 
^^^-              ]      Days.               245      276 

10 
304 

11         12 
335      365 

1          2          3 

31         6*1     1    92 

4     ,     5     1     6 
123   1   153  1   184 

7 
214 

T„x.r,               (      Months.              7 
J™^-             i       Days.             i   214 

8     '     9          10     1    11         12 
245   i    273   i   304   '   334      365 

1 
30 

2 
61 

3 

92 

4 
122 

5 
153 

6 
183 

July.            \      ?!«"«-■        1     ^          1 
j       Days.             ,184       21  o 

8 
243 

9 

274 

10         11         12 
304       335   1    365 

1 
31 

2 
62 

3 
92 

4 
123 

5 
153 

A  „„                \      Months. 
August.        ■>,      j^ 

(      Days. 

5          6          7 
153      184      212 

8 
243 

9 
273 

10 
304 

11         12    '      1 
334      365  i    31 

2 
61 

3 
92 

4 
122 

September.-!     JJ^^^'^^" 
(       J  >ays. 

4          5 
122   i    153 

6          7 
181       212 

8 
242 

9 
273 

10 
303 

11 
334 

12 
365 

1 
30^ 

2          3 
61        91 

October.      \      JI""*^" 
Days. 

3          4 
92    1   123 

5     '     6     i     7          8          9         10 
151   1    182   1   212       243       273      304 

11 
335 

12 
365 

1 
31 

2 
61 

November.   1      J?™*''- 

2 
01 

3          4          5 
92    1    120       151 

6 

181 

7          8 
212       242 

9 

273 

10        11 
304  :   334 

12         1 
365       30 

T-i^  „,.  „„      (      Months.             1 

De(;ember.    -       t\                       n. 

Days.                 31 

2 
62 

3 
90 

4 
121 

5 
151 

6 

182 

7          8     1     9 
212       243   ,   274 

10 
304 

11    !     12 
335   i   365 

Exi'LASATioxs.  —  Til  llnil  ihc  numlitr  of  months  or  days  from  Ajiril  1  to  .Tuly  1,  look  for 
April  in  the  column  at  tht;  left,  ami  follow  that  line  to  tlie  ri;:lit,  lilt  under  .Tuly,* at  the  top, 
will  lie  tounil  3  for  the  months,  and  01  for  the  days.     The  lime  from  .luly  1  lo  the  preceding 
April  1  is  found  In  the  same  maimer  ;  that  ia,  proceed  from  the  earlier  lo  the  later  date. 

How  many  days  from  March  10  t  ■  ?"pt.  16? 

Opposite  March,  ami  un.ler  S-plemhcr,  you  will  find  1S4,  to  which  add  6,  the  numher 
from  the  10th  to  tlie  Ifllh,  and  the  whole  number  will  be  190.    An». 

"What  is  the  numlxir  of  tl:iy3  fn)in  June  12  lo  August  8  ? 

Opposite  June,  and  under  Au^ist^  find  Gl,  which  is  the  number  from  Juuc  12  to  Auf^st 
12,  inm  which  .tub tract  4,  because  the  second  <l;ae  is  4  days  earlier  in  the  mouth  than 
the  first,  and  the  answer  is  57  dayj<,  or  1  month  and  27  days. 

Iltnv  many  days  from  Jan.  1  to  Marcli  1  ? 

From  Jan.  1  to  Marcli  1,  by  the  Table,  there  are  69  days  -,  for  there  are  30  after  the  1st 
io  Jan.,  28  iu  Feb.  (in  Leap-Vear  29),  and  1  in  March.    304-284-l=59.    Jns. 

BOOKKEEPING. 


REMARKS. 

1.  Is  finding  the  number  of  dajs  between  two  dates,  the  first  is  omitted, 
and  tlie  last  is  included.  Thus,  Irum  July  4  to  September  1  there  are  U9 
days  ;  tor  there  are  27  in  July,  ajter  the  4th,  31  in  August,  aud  1  in  Sep- 
tember ;  aud  27  -)~  ■  -  ~1~  1  =^  '^''*- 

2.  In  leap  year  February  has  29  days  ;  and  when  the  number  of  the 
year  is  divisible  by  4  it  is  leap  year,  as  1852,  IC'.G,  18C0,  &o.  When, 
thorcfjre,  the  end  of  February,  in  a  leap  year,  is  i  ludcd  between  the  two 
dates,  one  day  must  be  added  to  the  number  given  in  llio  tabb. 

3.  From  any  day  in  one  month  to  the  same  day  in  the  next  is  called  a 
month,  without  regard  to  the  exact  number  of  days.  Thus,  from  the  1st 
of  January  to  the  1st  of  February  is  one  month  ;  and  from  January  12  to 
March  12  is  2  months. 

4.  When  the  time  between  two  dates  is  to  be  expressed  in  months  and 
days,  the  number  of  whole  months  may  be  ascertained  by  counting  as 
dircotetl  in  Remark  3,  to  which  add  the  days  remaining. 

5.  When  a  fractional  part  of  a  month  is  to  be  expressed  in  days,  the 
whole  month  is  considered  as  30  days,  a  half  15,  a  third  10,  and  so  on. 

6.  When  the  two  dates  are  more  than  a  year  apart,  tlie  time  is  found  for 
the  part  of  a  year  ;  and  then  the  whole  years,  or  the  number  of  months  or 
days  in  the  whole  years,  are  added  to  the  first  answer.  Thus,  find  the 
days  between  April  7,  1858,  and  October  16,  1859.  From  April  7  to  Oc- 
tober IG  is  192  days  ;  and  192  -f-  3G5  =  557  days,  or  1  year,  6  months,  and 
9  days. 

7.  When  the  time  of  a  Note,  Draft,  &c. ,  is  specified  in  days,  it  must  not 
be  reckoned  in  months;  for  GO  days,  90  days,  &c. ,  are  not  exactly  the 
same  as  2  months,  3  months,  c&c. 

8.  Notes,  &c.,  falling  due  on  Sunday,  or  any  legal  holiday,  must  be 
paid  on  the  previous  day. 

9.  To  find  the  date  at  which  a  given  number  of  days  will  expire,  counted 
from  a  given  date,  look  in  the  table  for  the  given  number,  and  over  it  will 
be  the  month  sought  for  ;  and  the  day  will  he  the  same  as  the  given  date. 
If  the  given  number  is  not  in  the  bible,  take  the  next  less  number,  and 
proceed  accordingly,  adding  the  excess. 


EXAMPLES. 

1.  IIow  many  months  and  days  from  June  25,  1856,  to  September   1, 
in  the  same  year  ?  Jlns.    2  months  and  7  days,  or  08  days. 

2.  What  is  the  time  from  January  1,  1856,  to  March  17,  1856? 

Ans.    76  days,  or  2  months  and  16  days. 

3.  How  many  days  from  December  15,  1855,  to  February  23,  1856? 

Jlns.    70  days. 

4.  How  many  months  and  days  from  November  13,  1858,  to  March  1, 
1800  ?  Ans.    15  months  and  17  days. 

5.  What  is  the  time  from  December  30,  1858,  to  Feb.  23,  1861  ? 

Ans.    2  years,  1  month,  24  days. 

6.  On  what   day  will  a  Note  be  due  which  is  dated  May  12,  payable  in 
2  months?  Ans.   July  15. 

7.  A  Note  was  dated  October  12,  1851,  payable  in  90  days.     When  was 
it  due  7  Alls.    January  13,  1852. 

8.  When  should  a  Note  be  paid  which  is  dated  December  30,  payable  in 
2  months,  without  grace  ?      Ans.    Last  day  of  February , —  27,  28,  or  29. 

?.    A  Draft  was  drawn  on  the  1st  July,  1858,  payable  60  days  from 
date.     When  was  it  due?  Ans.  Sept.  2. 

10.  A  Draft,  dated  May  7,  payable  30  days  and  grace,  after  sight,  was 
accepted  May  18th,  1858.     When  was  it  due  ?  Ans.  June  19. 

11.  A  Note,  (®  30  days,  was  due  at  a  hank  on  Friday,  July  3,  1857. 
What  was  the  date  of  it?  Ans.  May  31,  June  1  or  2. 

12.  A  Draft,  payable  30  days  and  grace,  after  sight,  was  due  June  7. 
VAhit  was  the  date  of  the  acceptance  ?  Ans.  May  5. 

IS.    A  Note,  I®  60  da.y8,fell  due  on  Saturday,  Mar.  1.     What  was  the 
date  of  it  ?  -^'ts.  Dec.  28,  29,  or  30. 

14.    A  four-month  Note,  without  grace,  was  payable.at  a  bank  on  Satur- 
'  day,  Feb.  27.     What  was  its  date?         Ans.  Oct.  27,  28,  29,  30,  or -31. 

'       15.   When  should  a  two-month  Note  be  paid  which  was  made  on  Sun- 
I  day,  April  13,  1856? 


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